Chinese search engine (BIDU) has signed an agreement with, an online broadcaster in China, to invest the resources of its movie channel into for CNY100 million and a 8.3% stake in

Baidu started its own online movie business in 2005 with about 30 employees to promote a paid service. However, because of operating problems, the business shifted to a free model in October 2006. In October 2007, formally launched its online ordering business and on November 15, 2007, it jointly launched an interactive TV service with

Ren Xuyang, vice president for Baidu's market and business expansion, told local media that to invest the capital of into will help gain greater advantages in its market competition while Baidu can also gain profits as a shareholder of

Previous to this, Baidu cooperated with to develop its finance channel through outsourcing, which led to a displacement of some employees. If the cooperation with follows the same trend, another round of layoffs will be unavoidable. However, Baidu denies that they will cut jobs.


Please enter your comment!
Please enter your name here